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Cable Update (GBPUSD)

  • #277,061
  • Apr 21, 2011 1:08am Apr 21, 2011 1:08am
Quoting _BBKing_
ok.
so all the world looks like buy every possible dip-pullback-retrace etc..

in my 2 years i noticed this thing happening more n more near major holidays (eastern-xmas etc).
in these days market has lower liquidity, and can be driven "very easy"

today last day. tomorrow "taking profits" day

I agree... with less liquidity the market will whip around much more...

good advice to be careful about profit taking tmmrw and friday


Also I really wouldnt be suprised to see the GU fall back into the previous channel betweek 1.6044 and 1.6426 area considering the fact that the Uk has just as many problems as the US does and the stance of the BOE on raising rates hasnt budged due to poor economic reports

personally i wont enter a trade most likely until after the fed adress next week. that should show some awesome movement
  • #277,062
  • Apr 21, 2011 1:09am Apr 21, 2011 1:09am
Quoting _BBKing_
ok.
so all the world looks like buy every possible dip-pullback-retrace etc..

in my 2 years i noticed this thing happening more n more near major holidays (eastern-xmas etc).
in these days market has lower liquidity, and can be driven "very easy"

today last day. tomorrow "taking profits" day
Bears are hiding in the bushes, LONG from day high is not recommended. I based my opinion from the fact that we haven't seen any serious pullback like you say market has been driven in one direction almost with no resistance. Suppose that bears decide to come out of hiding, many happy go merry bulls will probably get slaughtered and then probably we'll see another bulls. Just an opinion though, market can be very different in reality.
  • #277,063
  • Apr 21, 2011 1:09am Apr 21, 2011 1:09am
Good morning. Interesting point, BB. In fact markets are closed tomorrow in most places. Not USA though? Might be wise to treat today like a Friday...
Gone to a better place
  • #277,064
  • Apr 21, 2011 1:14am Apr 21, 2011 1:14am
Morning.

What do you this about this?

http://img23.imageshack.us/img23/9106/unledvg.png

Josef
  • #277,065
  • Apr 21, 2011 1:16am Apr 21, 2011 1:16am
We've just printed yearly hi & the hourly shows a bullish continuation pattern.
Look to buy imo.

Good luck.
Attached Image (click to enlarge)
Click to Enlarge Name: gu1h.gif Size: 7 KB
Thank You
  • #277,066
  • Apr 21, 2011 1:18am Apr 21, 2011 1:18am
Quoting josef
Morning.

What do you this about this?

Josef

morning,
yes, the 6460 is a very main level to watch.

sincerely till now... i see no substantial pullback.
lets see london if they take care of this thing
90% of traders use TA, indicators and prediction
  • #277,067
  • Apr 21, 2011 1:29am Apr 21, 2011 1:29am
weekly chart
straight red is ema 200
dotted is sma 200
38,2% is there below actual price

h1 chart is the same study of weekly, zoomed in h1
Attached Image(s) (click to enlarge)
Click to Enlarge Name: gusdw1.gif Size: 18 KB
Click to Enlarge Name: gusdh1.gif Size: 18 KB
90% of traders use TA, indicators and prediction
  • #277,068
  • Apr 21, 2011 1:32am Apr 21, 2011 1:32am
Quoting _BBKing_
morning,
yes, the 6460 is a very main level to watch.

sincerely till now... i see no substantial pullback.
lets see london if they take care of this thing
Do you expect strong movement from that level?
  • #277,069
  • Apr 21, 2011 1:33am Apr 21, 2011 1:33am
Quoting PoundTrader
ok im now long again at 1.6402, s/l 1.6334, t/p 1.6496
yep back long again at 1.6402, s/l 1.6334, t/p 1.6495
  • #277,070
  • Apr 21, 2011 1:38am Apr 21, 2011 1:38am
Quoting wormboy
We've just printed yearly hi & the hourly shows a bullish continuation pattern.
Look to buy imo.

Good luck.
morning,
so the 6425 now appears to be a possible strong support?
it is also the 38,2% fibo on weekly chart.
90% of traders use TA, indicators and prediction
  • #277,071
  • Apr 21, 2011 1:39am Apr 21, 2011 1:39am
here the overlook for GU
Attached Image
  • #277,072
  • Apr 21, 2011 1:41am Apr 21, 2011 1:41am
Quoting josef
Do you expect strong movement from that level?
i expect more consolidation on 6425 today or in next days
6460 was another strong level.
now bulls eated that.
we are 6478
i would be worried if daily closes below 6460 or we we go below again the 6425
90% of traders use TA, indicators and prediction
  • #277,073
  • Apr 21, 2011 1:41am Apr 21, 2011 1:41am
Quoting PoundTrader
yep back long again at 1.6402, s/l 1.6334, t/p 1.6495
great
90% of traders use TA, indicators and prediction
  • #277,074
  • Apr 21, 2011 1:44am Apr 21, 2011 1:44am
Heights of 6480!!!hmmm... Where are the bears?... would love them now... had made a few unluncky decision with SL recently...want a recovery. lol

Experts and the experienced help much appreciated.

MKP
  • #277,075
  • Apr 21, 2011 1:48am Apr 21, 2011 1:48am
i have updated h1 chart we all these levels
i will check PA in m1+m5 if again near 6425
and/or near upper red line (daily "megaphone")

thank you all
Attached Image (click to enlarge)
Click to Enlarge Name: gusdh1.gif Size: 23 KB
90% of traders use TA, indicators and prediction
  • #277,076
  • Apr 21, 2011 1:51am Apr 21, 2011 1:51am
Quoting _BBKing_
i expect more consolidation on 6425 today or in next days
6460 was another strong level.
now bulls eated that.
we are 6478
i would be worried if daily closes below 6460 or we we go below again the 6425
I just stop thinking about the Bear for today and tomorrow according weekly trendline...I start to think about 1.6689 until 1.7271 next..... coz I believe 1.6555 will open the gate today
  • #277,077
  • Apr 21, 2011 1:56am Apr 21, 2011 1:56am
SHORT scalp 6473. expect some pullback and this also serve as my training.
  • #277,078
  • Apr 21, 2011 2:02am Apr 21, 2011 2:02am
gbpusd
Attached Image (click to enlarge)
Click to Enlarge Name: 1.gif Size: 33 KB
  • #277,079
  • Apr 21, 2011 2:02am Apr 21, 2011 2:02am
Quoting 0rPhioZ
SHORT scalp 6473. expect some pullback and this also serve as my training.
momentum is to the upside. If you want to train, train to trade with the momentum. The nearest resistance is @6515
Thank You
  • #277,080
  • Apr 21, 2011 2:16am Apr 21, 2011 2:16am
Quoting _BBKing_
morning,
so the 6425 now appears to be a possible strong support?
it is also the 38,2% fibo on weekly chart.
afternoon

yup, previous price been capped at that level quite a few times it's safe to assume so imo
Thank You
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